Shares of Amkor Technology Inc. (NASDAQ: AMKR) plummeted nearly 11% during intraday trading on Tuesday, following the company's disappointing guidance for the first quarter of 2025.
The semiconductor packaging and testing services provider reported mixed results for the fourth quarter of 2024. While Amkor beat Wall Street's earnings estimates, its revenue fell short of expectations. However, it was the company's weak outlook for the current quarter that appeared to trigger the sell-off.
For the first quarter of 2025, Amkor guided for earnings per share of just $0.01 to $0.17 on revenue of $1.23 billion to $1.33 billion. These projections significantly missed analysts' expectations of $0.27 per share in earnings and $1.42 billion in revenue. The company cited concerns over temporary socket gaps in current iOS phones and weakness in the automotive and industrial markets as factors impacting its near-term performance.
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